Yes, a Singapore company is required to have at least one local resident director. In order to qualify as locally resident, the person must be:
- Singapore citizen; or
- Singapore permanent resident;or
- Employment Pass holder (the Employment Pass should be from the same company for which he/she wants to act as a director); or
- Entrepreneur Pass holder (the Entrepreneur Pass must be from the same company for which he/she wants to act as a director)
A director must be a natural person and above 18 years old. Corporate directors are not permitted. There are a number of different ways you can satisfy the local resident director requirement:
1. If you plan to relocate to Singapore to run your company, you will need to apply for a work visa of type (employment pass or entrepass) under your new entity. Once your work visa is approved, you can act as the local resident director.
2. If you have a local partner or know a trustworthy person in Singapore who is willing to act as the local director, your problem is solved.
3. Alternatively, most foreigner entrepreneurs and businesses that setup a Singapore company without relocating to Singapore, use our nominee local director service. Our nominee director service does not require any shareholding in the company and does not get involved in the company operations or banking matters. For further information on our nominee director service